Mr. Gilbert Clark reports

MERIDIAN MINING ANNOUNCES $40 MILLION BOUGHT DEAL FINANCING

Meridian Mining PLC has entered into an agreement Stifel Canada, and BMO Capital Markets, as joint bookrunners and on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 25,316,500 common shares of the company at a price of $1.58 per common share for gross proceeds of $40,000,070.

The company has agreed to grant the underwriters an overallotment option to purchase up to an additional 3,797,475 common shares (representing 15 per cent of the number of common shares to be sold pursuant to the offering) at the offering price, exercisable in whole or in part, at any time and from time to time on or prior to the date that is 30 days following the closing of the offering to cover overallotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional $6,000,010.50 in gross proceeds will be raised pursuant to the offering and the aggregate gross proceeds of the offering will be approximately $46,000,080.

The common shares will be offered by way of a prospectus supplement to be filed in each of the provinces of Ontario, British Columbia and Alberta, and in the United States on a private placement basis, and other jurisdictions outside of Canada and the United States provided that no prospectus filing or comparable obligation arises. Access to the prospectus supplement and the corresponding base shelf prospectus dated Jan. 5, 2026, and any amendment thereto will be accessible within two business days in the case of the prospectus supplement and is currently available in the case of the base shelf prospectus under the company's profile on SEDAR+ in accordance with securities legislation relating to procedures for providing access to a base shelf prospectus, a prospectus supplement and any amendment thereto. An electronic or paper copy of the prospectus supplement, the corresponding base shelf prospectus and any amendments to the documents may be obtained, without charge, from ProspectusCanada@stifel.com by providing the contact with an e-mail address or address, as applicable.

The company intends to use the net proceeds of the offering to advance the definitive feasibility study for its Cabacal Au-Cu (gold-copper) project, to continue to advance Santa Helena to an initial resource, to expand regional exploration programs on the wider Cabacal VMS (volcanogenic massive sulphide) belt and for general corporate and administration costs and general working capital.

The offering is scheduled to close on or about Feb. 12, 2026, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals to list the common shares on the required exchange, which listings shall be conditionally approved prior to closing of the offering.

About Meridian Mining PLC

Meridian Mining is focused on:

• The development and exploration of the advanced stage Cabacal VMS gold-copper project;
• Expanding the initial resource inventory at in the Santa Helena area through extension of Santa Helena Central and new discoveries;
• Regional-scale exploration of the Cabacal VMS belt to expand the Cabacal Hub strategy;
• Exploration in the Jauru and Araputanga greenstone belts (the above all located in the state of Mato Grosso, Brazil).

The prefeasibility study technical report dated March 31, 2025, entitled: "Cabacal Gold-Copper Project NI 43-101 Technical Report and Pre-feasibility Study" outlines a base case after-tax NPV 5 (net present value, 5-per-cent discount rate) of $984-million (U.S.) and 61.2 per cent IRR from a pre-production capital cost of $248 million (U.S.), leading to capital repayment in 17 months (assuming metals price scenario of $2,119 (U.S.) per ounces of gold, $4.16 (U.S.) per pound of copper and $26.89 (U.S.) per ounce of silver). Cabacal has a low all-in sustaining cost of $742 (U.S.) per ounce gold equivalent and production profile of 141,000 ounce gold equivalent life of mine, driven by high metallurgical recovery, a low life-of-mine strip ratio of 2.3:1 and the low operating cost environment of Brazil.

The Cabacal mineral reserve estimate consists of proven and probable reserves of 41.7 million tonnes at 0.63 gram per tonne gold, 0.44 per cent copper and 1.64 g/t silver (at a 0.25 g/t gold equivalent cut-off grade).

The PFS technical report was prepared for the company by Tommaso Roberto Raponi (PEng), principal metallurgist with Ausenco Engineering Canada ULC; Scott Elfen (PE), global lead geotechnical and civil services with Ausenco Engineering Canada ULC; John Anthony McCartney, CGeol, Ausenco Chile Ltd.; Porfirio Cabaleiro Rodriguez (engineer geologist FAIG), of GE21 Consultoria Mineral; Leonardo Soares (PGeo, MAIG), senior geological consultant of GE21 Consultoria Mineral; Norman Lotter (mineral processing engineer; PEng), of Flowsheets Metallurgical Consulting Inc.; and, Juliano Felix de Lima (engineer geologist MAIG), of GE21 Consultoria Mineral.

Qualified person

Erich Marques, BSc, FAIG, chief geologist of Meridian Mining and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the technical information in this news release.

We seek Safe Harbor.